Nuclear, Reactors

Finland won’t cut nuclear energy ties with Russia despite Ukraine conflict

TVO job losses Olkiluoto 3 4 Areva-Siemens nuclear reactor construction

Finland said it plans to continue ties with Russia to continue developing nuclear power in the country despite calls from the European Union (EU) to end energy agreements with Russia.

Finland and Russia signed a civilian nuclear agreement in February that would make international treaties on nuclear liability reciprocally applicable between the two countries. The agreement includes the research of nuclear energy, reactors and their use in energy production, safety, and radiation and environmental protection.

A deal with Areva-Siemens to build the Olkiluoto 3 nuclear plant in Finland has been wrought with cost overruns, project delays and court challenges, which are pushing Finnish nuclear company Fennovoima to look to Russia’s Rosatom for a 1,200-MW nuclear reactor to be built at Pyhajoki in northern Finland, according to Reuters. This comes at a time that the EU is asking member countries to cut ties with Russia due to the Ukranian conflict. Finland also aims to begin power exports to Russia next year, the article said. Finnish utility Fortum said in the article it is moving forward with plans to invest 4.2 billion euros ($5.26 billion) in Russia by the end of 2015.

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